Entrepreneurship 2008 1st Edition

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Entrepreneurship 2008 1st Edition Bygrave Test Bank

Ch01: Chapter 1: The Power of Entrepreneurship

True/False

1. In general, businesses with 100-500 employees are considered “medium businesses.”

Ans: False

2. A majority of small business owners feel their companies have increased their overall standard of
living.

Ans: False

3. The first two NASDAQ stocks to be included in the Dow Jones Industrial Average were
Microsoft and Apple.

Ans: False

4. The Dow Jones Industrial Average is the average price of all the companies traded on the New
York Stock Exchange.

Ans: False

5. Venture Capital is only a source of growth funding for technology companies with the potential
for rapid scale.

Ans: False

6. Historical returns for venture capitalists have averaged 143% over the past several decades.

Ans: False

7. The boom and bust cycle of the dot-com era is similar to other periods of commercial innovation.

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Ans: True

8. The Yahoo IPO set the all-time record for Silicon Valley companies.

Ans: False

9. Entrepreneurship did not grow very much after the Great Depression until 1970’s.

Ans: True

10. Baby boomers are not as concerned about job security as were their parents.

Ans: True

11. The Fortune 500 employed 15 percent of the workforce in 2005.

Ans: False

12. There had been a burst of venture capital backed startups in the last half of the 1960s.

Ans: True

13. Today, about 700 universities have offices for technology transfer.

Ans: False

14. The Web has served as the means to the biggest change in entrepreneurship in the last 10 years.

Ans: True

15. Virtual companies are companies so called because they outsource much of their work.
Ans: True

16. In 2001, North American incubators assisted more than 350,000 startup companies.

Ans: False

17. Professionalization of the entrepreneurial process that has developed over the last 20 years has
almost eliminated the need for young entrepreneurs to write business plans themselves.

Ans: False

18. Five percent of American adults report they “invested” in someone else’s venture in the last
three years.

Ans: True

19. Churning is the main driver of a vital economy.

Ans: True

20. The Global Entrepreneurship Monitor (GEM) is an organization created to gather information
about the most successful start-ups for potential investors.

Ans: False

21. The Total Entrepreneurial Activity (TEA) index focused on opportunity entrepreneurs is the
percent of the adult population that are trying to start or have started a baby business to exploit a
perceived opportunity because all other options for work are either absent or unsatisfactory.

Ans: False

22. Japan is among the leaders in terms of entrepreneurial activity.

Ans: False
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